FORT WORTH, Texas, April 28, 2025 (GLOBE NEWSWIRE) -- Lottery.com Inc. (Nasdaq: LTRY, LTRYW), a leading provider of digital lottery, sweepstakes, and sports entertainment technology, today announced that it is planning its first shareholder webinar in more than three years to be held in the coming weeks as part of its continued commitment to transparency, engagement and building trust. Chairman and CEO Matthew McGahan will also be issuing a formal communication to shareholders providing insight into the Company’s strategic progress and vision for growth.

These initiatives come as the Company nears the successful conclusion of a two-year corporate turnaround, which has positioned Lottery.com for long-term operational strength, strategic expansion, and shareholder value creation.

Matthew McGahan, Chairman and CEO of Lottery.com, commented:
“As we approach the final phase of this disciplined turnaround, now is the right time to directly engage with our shareholders, share our roadmap, and outline the exciting opportunities ahead. This journey has always been about rebuilding with integrity and ambition—and we’re ready to deliver.”

A Comprehensive Turnaround from the Top Down:

  • Board and Governance: Complete overhaul of the Board of Directors, installing experienced leadership committed to transparency and growth. Additionally, the Company formed a strategic Advisory Board in February 2025, comprising industry leaders and experts guiding international expansion, responsible gaming, and technological innovation.
  • C-Suite Rebuild: Restructuring of the executive team, with McGahan transitioning from Non-Executive Chairman to CEO and President of both Lottery.com and Sports.com. Additionally, the Company appointed Robert Stubblefield as its Chief Financial Officer and Gregory Potts as its Chief Operating Officer.
  • Legal and Compliance Reset: Replacement of all prior legal counsel, with new representation including the recent engagement of recognized Crowell & Moring as the Company’s global counsel.
  • Capital Markets and Strategic Funding: Appointment of Cohen & Company Capital Markets as investment banker, alongside securing $100 million from Generating Alpha Ltd. and $150 million from United Capital Investments London (UCIL). These facilities are being deployed strategically to drive shareholder value through cash-generative acquisitions; cutting-edge technology development and investment; resumption and expansion of gaming operations that drives revenues; and building balance sheet strength.

Strategic Use of Funding for Growth:
The Company emphasizes that capital secured through its funding facilities, including the recently filed S-1, will be strategically deployed to:

  • Build or acquire state-of-the-art technology for Lottery.com and Sports.com, enabling immersive, live-streaming sports media and enhanced fan engagement.
  • Close advanced stage, revenue generative acquisitions, designed to accelerate profits and deliver shareholder value.
  • Strengthen the Company’s balance sheet and fund innovation across its digital lottery and sports entertainment platforms.

Legal Success and Stability:

Lottery.com has successfully defended more than a dozen legal cases, eliminating key litigation risks and solidifying the foundation for future growth.

Vision for 2025 and Beyond:

With the turnaround nearly complete, the Company is focused on increasing revenues through resuming gaming operations and monetizing Sports.com and completing certain acquisitions that will accelerate profitability and shareholder value.

Engaging with Shareholders:
As part of the Lottery.com’s continued commitment to transparency, shareholder engagement and building public trust, the Company plans the following:

  • Webinar: The Company shall host a shareholder webinar in Q2.
  • Shareholder Letter: A formal communication from Chairman and CEO Matthew McGahan to the Company’s shareholders will be issued in the coming weeks.

Important Notice Regarding Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on April 22, 2025, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.

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